Category: Corporate

What is the jural relationship between a chit fund entity and the subscribers, created by a chitty agreement;HELD “the relationship between a chit subscriber and the chit foreman is a contractual obligation, which creates a debt on the day of subscription. On default taking place, the foreman is entitled to recover the consolidated amount of future subscriptions from the defaulting subscriber in a lump sum.”

SUPREME COURT OF INDIA DIVISION BENCH M/S ORIENTAL KURIES LTD. REPRESENTED BY ITS CHAIRMAN P.D. JOSE — Appellant Vs. LISSA AND OTHERS — Respondent ( Before : Indu Malhotra and…

Insolvency and Bankruptcy Code, 2016 – Section 12(3) – Time limit for completion of Insolvency Resolution Process – Where the insolvency resolution process of a corporate debtor is pending and has not been completed within the period referred to in the second proviso, such resolution process shall be completed within a period of ninety days from the date of commencement of the Insolvency and Bankruptcy Code (Amendment) Act, 2019

SUPREME COURT OF INDIA DIVISION BENCH JAIPRAKASH ASSOCIATES LTD AND ANOTHER — Appellant Vs. IDBI BANK LTD. — Respondent ( Before : A.M. Khanwilkar and Dinesh Maheshwari, JJ. ) Civil…

Marketing Discipline Guidelines, 2012 – Clauses 5.1.11, 8.2 and 8.3 – Termination of dealership – Adulteration of High Speed Diesel – In case of positive stock variation beyond permissible limits and on account of failure of sample, action in line with that of adulteration is to be initiated.

SUPREME COURT OF INDIA DIVISION BENCH INDIAN OIL CORPORATION LTD. AND OTHERS — Appellant Vs. M/S. R.M. SERVICE CENTRE AND ANOTHER — Respondent ( Before : L. Nageswara Rao and…

SC Sets Aside NCLAT Order Which Held That Dissenting Financial Creditor Should Not Be Discriminated HELD “Having regard to these factors and circumstances, it is held that the NCLAT’s order and directions were not justified. They are hereby set aside; the order of the NCLT is hereby restored”,

SC Sets Aside NCLAT Order Which Held That Dissenting Financial Creditor Should Not Be Discriminated The Supreme Court on Friday set aside an order passed by the National Company Law Appellate…

Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 – Section 14 – Possession of secured asset – CJM is competent to process the request of the secured creditor to take possession of the secured asset under Section 14 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002

SUPREME COURT OF INDIA DIVISION BENCH THE AUTHORISED OFFICER, INDIAN BANK — Appellant Vs. D. VISALAKSHI AND ANOTHER — Respondent ( Before : A.M. Khanwilkar and Dinesh Maheshwari, JJ. )…

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